Military expenditure in Latin America & Caribbean
Latin America & Caribbean: Military expenditure was 73.38 billion current USD in 2024. ◆ Volatile
Latest (2024)
73.38 billion current USD
Change on year
up 10.6%
Rank
24th
of 42 groups
All-time high
78.46 billion current USD
in 2013
All-time low
952.12 million current USD
in 1961
Years of data
65
1960–2024
Military expenditure in Latin America & Caribbean, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
Latin America & Caribbean recorded 73.38 billion current USD for military expenditure in 2024.
That represents a change of up 10.6% on the previous year and up 0.9% over ten years.
Over the whole period, military expenditure in Latin America & Caribbean peaked at 78.46 billion current USD in 2013 and was at its lowest, 952.12 million current USD, in 1961.
Latin America & Caribbean ranks 24th of 42 groups on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Military expenditure in Latin America & Caribbean, year by year
| Year | current USD | Change |
|---|---|---|
| 1960 | 1.04 billion current USD | — |
| 1961 | 952.12 million current USD | -8.5% |
| 1962 | 1.47 billion current USD | +54.4% |
| 1963 | 1.56 billion current USD | +6.0% |
| 1964 | 1.48 billion current USD | -5.1% |
| 1965 | 1.82 billion current USD | +23.4% |
| 1966 | 1.98 billion current USD | +8.3% |
| 1967 | 2.12 billion current USD | +7.2% |
| 1968 | 2.08 billion current USD | -1.7% |
| 1969 | 2.29 billion current USD | +10.1% |
| 1970 | 2.86 billion current USD | +24.6% |
| 1971 | 3.46 billion current USD | +21.2% |
| 1972 | 4.05 billion current USD | +16.9% |
| 1973 | 5.40 billion current USD | +33.5% |
| 1974 | 6.66 billion current USD | +23.3% |
| 1975 | 6.15 billion current USD | -7.7% |
| 1976 | 8.00 billion current USD | +30.0% |
| 1977 | 8.80 billion current USD | +10.1% |
| 1978 | 10.05 billion current USD | +14.2% |
| 1979 | 12.83 billion current USD | +27.7% |
| 1980 | 15.27 billion current USD | +19.0% |
| 1981 | 16.54 billion current USD | +8.3% |
| 1982 | 13.49 billion current USD | -18.4% |
| 1983 | 12.37 billion current USD | -8.4% |
| 1984 | 11.49 billion current USD | -7.1% |
| 1985 | 10.77 billion current USD | -6.3% |
| 1986 | 10.97 billion current USD | +1.9% |
| 1987 | 13.01 billion current USD | +18.6% |
| 1988 | 14.63 billion current USD | +12.5% |
| 1989 | 16.67 billion current USD | +13.9% |
| 1990 | 18.39 billion current USD | +10.3% |
| 1991 | 16.00 billion current USD | -13.0% |
| 1992 | 15.67 billion current USD | -2.1% |
| 1993 | 19.23 billion current USD | +22.8% |
| 1994 | 24.11 billion current USD | +25.4% |
| 1995 | 28.63 billion current USD | +18.7% |
| 1996 | 29.58 billion current USD | +3.3% |
| 1997 | 29.32 billion current USD | -0.9% |
| 1998 | 30.19 billion current USD | +3.0% |
| 1999 | 25.43 billion current USD | -15.8% |
| 2000 | 27.24 billion current USD | +7.1% |
| 2001 | 27.33 billion current USD | +0.3% |
| 2002 | 22.86 billion current USD | -16.4% |
| 2003 | 22.19 billion current USD | -2.9% |
| 2004 | 25.17 billion current USD | +13.4% |
| 2005 | 32.71 billion current USD | +30.0% |
| 2006 | 37.95 billion current USD | +16.0% |
| 2007 | 46.58 billion current USD | +22.8% |
| 2008 | 56.44 billion current USD | +21.2% |
| 2009 | 56.23 billion current USD | -0.4% |
| 2010 | 68.69 billion current USD | +22.2% |
| 2011 | 73.82 billion current USD | +7.5% |
| 2012 | 75.35 billion current USD | +2.1% |
| 2013 | 78.46 billion current USD | +4.1% |
| 2014 | 72.71 billion current USD | -7.3% |
| 2015 | 59.36 billion current USD | -18.4% |
| 2016 | 56.66 billion current USD | -4.5% |
| 2017 | 66.60 billion current USD | +17.5% |
| 2018 | 63.96 billion current USD | -4.0% |
| 2019 | 60.55 billion current USD | -5.3% |
| 2020 | 54.48 billion current USD | -10.0% |
| 2021 | 55.91 billion current USD | +2.6% |
| 2022 | 59.52 billion current USD | +6.5% |
| 2023 | 66.33 billion current USD | +11.4% |
| 2024 | 73.38 billion current USD | +10.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.68 billion current USD | 952.12 million current USD | 2.29 billion current USD | 10 |
| 1970s | 6.83 billion current USD | 2.86 billion current USD | 12.83 billion current USD | 10 |
| 1980s | 13.52 billion current USD | 10.77 billion current USD | 16.67 billion current USD | 10 |
| 1990s | 23.65 billion current USD | 15.67 billion current USD | 30.19 billion current USD | 10 |
| 2000s | 35.47 billion current USD | 22.19 billion current USD | 56.44 billion current USD | 10 |
| 2010s | 67.62 billion current USD | 56.66 billion current USD | 78.46 billion current USD | 10 |
| 2020s | 61.92 billion current USD | 54.48 billion current USD | 73.38 billion current USD | 5 |
Countries ranked near Latin America & Caribbean
- 21 Algeria 21.81 billion current USD compare
- 22 Brazil 20.95 billion current USD compare
- 23 Mexico 16.73 billion current USD compare
- 24 Qatar 15.41 billion current USD compare
- 25 Colombia 15.10 billion current USD compare
- 26 Singapore 15.06 billion current USD compare
- 27 Sweden 12.04 billion current USD compare
More public sector data for Latin America & Caribbean
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9725 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 67.27 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 644.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 110.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0104 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 10.62 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 73.38 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.2 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is military expenditure in Latin America & Caribbean?
- Military expenditure in Latin America & Caribbean was 73.38 billion current USD in 2024, according to SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI).
- What is the highest military expenditure recorded in Latin America & Caribbean?
- The highest recorded value was 78.46 billion current USD in 2013.
- What is the lowest military expenditure recorded in Latin America & Caribbean?
- The lowest recorded value was 952.12 million current USD in 1961.
- How does Latin America & Caribbean rank for military expenditure?
- Latin America & Caribbean ranks 24th out of 42 groups with data for 2024.
- Is military expenditure rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 0.9%. The long-run trend across the full record is volatile.
- Where does this Latin America & Caribbean data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (current USD). Statizoid updates them automatically from the source API.
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About this data
Military spending USD, in current prices (converted at the exchange rate for the given year)